The Canadian financial regulator of the Manitoba province (MSC) has released a regulatory statement warning potential retail clients to not invest with GTOptions considering they are not registered.
This particular binary options broker has been operating under the website www.gtoptions.com and is based out of Bulgaria. However, they do not seem to possess any type of regulatory license to legally provide financial trading services.
According to MSC, GTOptions is not registered and therefore has no license to trade or market their services to clients in Manitoba, or anywhere else in Canada for that matter.
Manitoba Securities Commission has the goal of promoting and regulating the financial sector of the Manitoba province in Canada and through its activities ultimately protect the retail investors. Their website provides information about the financial companies and persons that are in violation of the Manitoba laws and regulations.
Multiple regulatory commissions and bodies across are uniting to fight against false advertising attempts from various Canadian false and illegal forms who are trying to scam investors. They have gathered on a new website which is specially launched to tackle these types of illegal activities.
The name of the new website is www.BinaryOptionsFraud.ca and its goal is to educate the Canadian citizens on possible binary options scams and fraudulent behaviors. There are thirteen important financial regulators in this task force, each one dedicated to a respective Canadian province. The team of regulators is called the Canadian Securities Administrators (CSA).
This movement has started after more than 800 reports sent from retail investors in 2016. The year has been a turning point when it comes Canada’s fight against fraudulent binary options activities which have become widespread in a very short time frame.